Ripple splits over 900 million XRP into three chunks after Signature Bank shuts down

According to Whale Alert, there have been multiple sizable XRP transactions in the past 24 hours, including three jaw-dropping transactions with volumes between 200 million and nearly 300 million. Ripple and anonymous wallets transferred a total of 916 million Ripple.

The transfers took place around the same time news of the closing of the third-largest cryptocurrency-friendly bank surfaced.

According to the aforementioned source, three of the eight XRP transactions it identified involving the largest single XRP amount were made by wallets affiliated with cryptocurrency giant Ripple. These transfers transferred large amounts of cryptocurrency, including 278,500,000, 245,500,000, and 200,000,000 XRP.

These tokens are worth $262.4 million in fiat dollars. A portion of this cash was reportedly transferred to Bittrex for sale. The remainder is transferred between wallets connected to Ripple.

Ripple shovels over 900 million xrp in three big blocks after signature bank shuts down

The remaining five transfers transferred a total of 192 million XRP. Each of the four moved tens of millions of XRP to the Bitstamp exchange.

Over the weekend, it was revealed that Signature Bank had filed for bankruptcy. The third largest crypto-friendly bank to close down recently is this bank. Before that, Silicon Valley and Silvergate Banks both failed. Ripple CEO Brad Garlinghouse claimed that the cryptocurrency company had no access to the bank. However, its closure has had no impact on the way it conducts business.

This affects the bank’s ability to mint the TUSD stablecoin for a small number of clients. Regarding the BUSD and USDP stablecoins, its issuer Paxos tweeted that $250 million of its funds existed and remained there when the bank closed.

Chinese author Colin Wu claimed in a recent tweet that the U.S. government has taken action to protect all customer deposits by providing a comprehensive guarantee for this.

– Wu Blockchain (@WuBlockchain) March 13, 2023

Renowned investor and author of “Rich Dad Poor Dad” Robert Kiyosaki foresaw the imminent collapse of the third largest bank after Silvergate and Silicon Valley Bank. He didn’t give a specific name, but it’s clear he had Signature Bank in mind. Still, the event had little impact on Bitcoin. However, BTC rose nearly 10 percent to $22,681. However, at the time of writing, the most popular cryptocurrency is trading at $22,088.

Source of information: Compiled from AZCOINNEWS by 0x Information.Copyright belongs to the author Selena, without permission, may not be reproduced

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